Akari Therapeutics (NASDAQ:AKTX) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Akari Therapeutics PLC (NASDAQ:AKTX) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $9.45 and traded as high as $12.21. Akari Therapeutics shares last traded at $11.79, with a volume of 60,271 shares trading hands.

Analysts Set New Price Targets

Several brokerages have issued reports on AKTX. HC Wainwright upped their price target on shares of Akari Therapeutics to $27.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Akari Therapeutics in a research note on Monday, April 20th. Finally, Maxim Group downgraded Akari Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $89.00.

Akari Therapeutics Trading Up 5.0%

The business’s fifty day moving average price is $9.45 and its 200 day moving average price is $9.52.

Akari Therapeutics (NASDAQ:AKTX) last posted its quarterly earnings data on Wednesday, May 20th. The biopharmaceutical company reported ($688.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.33) by ($686.67).

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Akari Therapeutics stock. Armistice Capital LLC purchased a new position in shares of Akari Therapeutics PLC (NASDAQ:AKTX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,723,966 shares of the biopharmaceutical company’s stock, valued at approximately $787,000. Armistice Capital LLC owned 5.95% of Akari Therapeutics as of its most recent SEC filing. Institutional investors and hedge funds own 5.06% of the company’s stock.

Akari Therapeutics Company Profile

Akari Therapeutics plc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel complement inhibitors for the treatment of inflammatory and immunological diseases. The company’s research centers on modulation of the complement cascade, a key component of the innate immune system, with the goal of delivering targeted therapies to patients suffering from rare and severe disorders.

Akari’s lead pipeline asset is sutimlimab, a humanized monoclonal antibody that selectively inhibits the C1s protein and is being evaluated in pivotal clinical studies for cold agglutinin disease.